With fewer than 200 days to go, anticipation mounts for the halving, a four-year event that halves the supply rate. Bitcoin’s fourth halving is projected to take place on or around April 24, 2024. This comprehensive guide will help you understand the halving’s effects and what to anticipate.
The Countdown to Halving and Understanding the Halving Mechanism
By current measurements,
193 days remain until the halving, set for April 2024. In essence, the Bitcoin halving, coded into Bitcoin by its founder,
Satoshi Nakamoto, happens every 210,000 blocks, roughly every four years. When the network hits a certain block number, the mining reward — the bitcoin amount miners earn for verifying transactions — is halved.
For instance, the initial mining reward was 50 bitcoins per block, and it fell to 25 bitcoins per block after 2012’s first halving. This system ensures a regulated supply rate that diminishes over time. To date, Bitcoin has undergone three halvings: the first on November 28, 2012, the second on
July 9, 2016, and the third on
May 11, 2020, when the reward declined to 6.25
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